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The subject of effective corporate governance and, more specifically, effective corporate risk management is by no means new. Examples of failed leadership at a Board level are however still as common if not more common than what should be the rule.

Lux Actuaries & Consultants has prepared a short guide on the principles of corporate governance. Our short guide covers the following key topics:

• Risk appetite and risk policy: How much risk are we willing to take for the strategic goals we want to achieve?
• Organisational structure: The structure of Boards, particularly that within which an effective ERM framework is deployed and managed plays a key role in its success.
• Performance assessment: How well is the Board managing its responsibilities, particularly during this crisis? How does this compare to best practice standards?
• Business continuity and resilience to crises: Boards have a critical role in providing oversight and guidance on the ability to absorb and recover from external crises and systemic shocks.
• Public disclosure: Effective corporate governance includes effective reporting and communication with stakeholders.
• Dividing responsibilities: Where is the line between Board and Management?

Principles that should govern effective decision making at the highest level have not changed and are extremely important to remember during the new normal of a COVID-19 world. The ability for businesses to adapt and adapt quickly to the norms of working from home, exponentially growing cyber-threats, increased economic uncertainty, interrupted supply chains, climate change and many others requires forward thinking stewardship by company Boards and senior management.

You can download the guide here: https://resource.luxactuaries.com/corp-governance-principles/

Reach out to us if you would like to know more. Our consultants would be happy to answer any questions you may have.